Estimating Ultimate Incurred Losses in Auto Liability Insurance [Discussion]

In the introduction of his paper, Mr. Harwayne cites the serious need for insurance premiums which will be adequate in the face of an inflationary economy. He suggests that this need can be met, in part at least, by taking steps to bridge the time-gap between the cut-off date of basic ratemaking data and the effective date of rate revision. Certainly there can be little quarrel with either the need for adequate rates or the desirability of achieving them through use of the most recent factual information available.